Charlotte, NC (PRWEB) February 01, 2014
Hobart Financial Group, a Charlotte retirement planning firm, offers advice on how people can avoid big retirement investing blunders.
According to a January 9th Market Watch article titled “5 critical retirement investing mistakes to avoid,” most people are impatient and lack self-control when trying to save money. Most people prefer getting funds instantly, the article says. They don’t want to invest in a product that will generate more money over a longer period of time, like an annuity.
The article also says many retirees over the age of 60 have begun to lose some of their financial literacy. In fact, the article says, “Evidence suggests that older adults make more financial mistakes than middle-aged adults.”
The article lists the top 5 retirement investing mistakes retirees make when preparing for their future:
- Ignore the effects of inflation
- Emotionally react to news stories about the stock market
- Striving to achieve past performance rates
- Fail to diversify a portfolio
- Ignoring the effects of personality and mood on trading decisions
Chris Hobart, CEO of Hobart Financial Group, a leading Charlotte retirement planning firm in North Carolina says patience is a virtue. “The only way to avoid these mistakes is to be patient and stay informed,” he says. “With a diversified portfolio of investments and a rational outlook on the stock market, most retirees should be well prepared for their future. It’s all about learning to be patient and knowing when to be concerned about changes in the economy.”
For workers entering retirement and approaching that 60+ age, Hobart suggests looking for advice from an RIA or other financial professional. “Many older investors and eager retirees can sometimes jump the gun when it comes to money,” he says. “It’s best to seek advice from a retirement expert that can help you get the most amount of money for your future. They can help you make better financial decisions and help you prepare for retirement.”
Hobart Financial Group is an independent financial advisory firm dedicated to personalizing service with uncompromising integrity. Its focus on comprehensive, tax-advantaged plans help to provide sound preservation of capital, growing income and increased returns with reduced risk. Chris Hobart, founder of Hobart Financial Group, understands that true wealth means being able to share your life with the people you love, free from financial anxiety. Hobart Financial helps Carolinas’ retirees preserve and protect their wealth with comprehensive financial retirement planning and wealth management.